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TODAY TECHNICAL LEVEL :
Intraday Key Level :
Resistance. 3 : 85.80.
Resistance. 2 : 85.63.
Resistance. 1 : 85.46.
Support. 1 : 85.25.
Support. 2 : 85.08.
Support. 3 : 84.91.
3 Days high : 85.55.
3 Days Low : 84.06.
TODAY OUTLOOK :
After the USD/JPY got a strong upside momentum a few days ago, now the pair is stuck in a ranging situation between 85.00 and 85.55 (3-days high); now the 82.25 level will be a mid-point for this pair. Today there is a possibility the 85.25 level will be tested. However, please pay attention for the today's Technical Level at the today's Resistance. 3 and today's Support. 3; usually after reaching one of these levels the pair reverses between 10 pips to the 20 pips; if the pair reaches one of these levels and still goes more than 50 pips in the chosen direction, this will denote that the USD/JPY has found its tendency for today.
TODAY RECOMMENDATION :
BUY if the USD/JPY can break out and close above the 85.55 level; set Take profit at 85.75 as the first target and 86.00 as the second target.
SELL if the USD/JPY can break out and close below the 85.25 level; set Take profit at 85.00 as the first target and 84.86 as the second target.
